Nasdaq, Inc. $NDAQ Stake Raised by International Assets Investment Management LLC

Key Points

• International Assets Investment Management LLC increased its Nasdaq stake by 406.9% in the third quarter, reaching 35,000 shares valued at $3.22 million. Institutional investors collectively own 72.47% of NDAQ.
• Nasdaq reported stronger-than-expected quarterly results, with earnings of $1.04 per share versus the $1.02 consensus estimate and revenue rising 12.6% year over year to $2.39 billion.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $113.53 price target. Nasdaq also declared a quarterly dividend of $0.31 per share, while insiders sold 22,877 shares worth approximately $2.33 million over the past three months.

International Assets Investment Management LLC increased its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 406.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,000 shares of the financial services provider's stock after buying an additional 28,095 shares during the quarter. International Assets Investment Management LLC's holdings in Nasdaq were worth $3,220,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NDAQ. Lebenthal Global Advisors LLC increased its position in shares of Nasdaq by 14.2% during the third quarter. Lebenthal Global Advisors LLC now owns 13,765 shares of the financial services provider's stock valued at $1,266,000 after purchasing an additional 1,709 shares during the period. Parcion Private Wealth LLC acquired a new position in shares of Nasdaq in the third quarter valued at $273,000. Partners Wealth Management LLC bought a new position in Nasdaq in the third quarter worth $552,000. Soltis Investment Advisors LLC bought a new position in Nasdaq in the third quarter worth $255,000. Finally, Choreo LLC lifted its position in Nasdaq by 69.1% in the third quarter. Choreo LLC now owns 15,614 shares of the financial services provider's stock worth $1,437,000 after purchasing an additional 6,378 shares during the period. 72.47% of the stock is currently owned by institutional investors.

Nasdaq Price Performance

Shares of Nasdaq stock opened at $108.62 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $60.28 billion, a price-to-earnings ratio of 29.68, a P/E/G ratio of 1.85 and a beta of 0.99. Nasdaq, Inc. has a 1-year low of $76.55 and a 1-year high of $108.69. The firm's 50-day moving average price is $95.92 and its two-hundred day moving average price is $90.73.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.02. Nasdaq had a net margin of 22.81% and a return on equity of 19.03%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the business posted $0.88 earnings per share. The company's revenue was up 12.6% on a year-over-year basis. On average, equities analysts predict that Nasdaq, Inc. will post 4.15 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, December 4th. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. Nasdaq's dividend payout ratio is 33.88%.

Insider Buying and Selling

In other Nasdaq news, EVP Jeremy Skule sold 1,125 shares of the business's stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $95.00, for a total value of $106,875.00. Following the transaction, the executive vice president owned 96,561 shares of the company's stock, valued at approximately $9,173,295. The trade was a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bradley Peterson sold 3,987 shares of the business's stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $104.75, for a total value of $417,638.25. Following the completion of the transaction, the executive vice president directly owned 114,306 shares in the company, valued at approximately $11,973,553.50. This represents a 3.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,877 shares of company stock worth $2,330,505 in the last three months. Insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NDAQ shares. Piper Sandler reissued an "overweight" rating and issued a $108.00 price target (up from $104.00) on shares of Nasdaq in a report on Friday, October 2nd. TD Cowen reduced their price objective on shares of Nasdaq from $108.00 to $107.00 and set a "buy" rating for the company in a report on Monday, October 12th. Argus lifted their target price on shares of Nasdaq from $103.00 to $111.00 in a research report on Wednesday, August 5th. Jefferies Financial Group reiterated a "hold" rating on shares of Nasdaq in a research report on Thursday, October 22nd. Finally, The Goldman Sachs Group upped their target price on shares of Nasdaq from $109.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $113.53.

Nasdaq Profile

Nasdaq, Inc is a global financial technology and market infrastructure company best known for operating the Nasdaq Stock Market, one of the world's largest electronic stock exchanges. The company provides listing services for public companies and operates trading venues for equities, options and other financial products. Its exchange business serves companies, investors and market participants in the United States, as well as through Nasdaq's Nordic and Baltic market operations.

Beyond its exchange activities, Nasdaq provides market data, analytics, indexes and technology used by exchanges, brokers, banks, asset managers and other financial institutions.

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